WEEKEND READING:

Next wave of bankruptcies coming: Grant

Thornton

Distressed investors should brace for another wave of bankruptcies as early as this year as more corporate debt payments come due, a senior partner at Grant Thornton said on Thursday.

Debt extensions have helped put off various crises and postponed some distressed situations or even bankruptcies. As the economic recovery stretches, however, more corporate pain can be expected, said Harris Smith, a managing partner with Grant Thornton's private equity group based in Los Angeles.

"I think it's a matter of time before the bankruptcies start increasing again," Smith told Reuters. "People thought everything was getting better, but it perhaps it isn't.

for more:http://in.reuters.com/article/businessNews/idINIndia-46287120100218